Forecasting Models and Types of Data
There are different types of forecasting models that can be used in business research. Each model is suitable for a type of historical demand data. Some data may have a trend, may be without a trend, or may be seasonal.
How can trendless data be evaluated?
How does a trailing-moving average compare to a centered-moving average?
When should exponential smoothing be used for data? Explain with an example.
In exponential smoothing, what type of smoothing constant should be chosen for little smoothing compared with moderate smoothing?
Justify your answers using examples and reasoning. Comment on the postings of at least two peers and state whether you agree or disagree with their views.